Cigna Investments Inc. New Has $1.01 Million Position in Fiserv, Inc. (NASDAQ:FISV)
Cigna Investments Inc. New reduced its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,239 shares of the business services provider’s stock after selling 514 shares during the period. Cigna Investments Inc. New’s holdings in Fiserv were worth $1,008,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC bought a new stake in Fiserv during the second quarter worth approximately $104,000. First Manhattan Co. raised its stake in Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock worth $102,000 after buying an additional 134 shares during the period. Advisory Services Network LLC bought a new stake in Fiserv during the first quarter worth approximately $131,000. Trust Co. of Vermont raised its stake in Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after buying an additional 453 shares during the period. Finally, Morgan Dempsey Capital Management LLC raised its stake in Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock worth $171,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.
Fiserv, Inc. (FISV) opened at 122.49 on Friday. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35. The firm has a 50-day moving average price of $124.36 and a 200 day moving average price of $118.93. The company has a market cap of $25.78 billion, a price-to-earnings ratio of 29.99 and a beta of 0.81.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.04. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. Equities analysts expect that Fiserv, Inc. will post $5.10 earnings per share for the current fiscal year.
A number of research firms have commented on FISV. Cowen and Company reiterated a “hold” rating and issued a $115.00 price target on shares of Fiserv in a research report on Thursday, August 3rd. Barclays PLC reiterated an “equal weight” rating and issued a $123.00 price target (up previously from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. Royal Bank Of Canada upped their price target on Fiserv from $123.00 to $128.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 2nd. BMO Capital Markets upped their price target on Fiserv from $112.00 to $133.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. Finally, Credit Suisse Group upped their target price on Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $126.91.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $125.06, for a total transaction of $2,126,020.00. Following the sale, the insider now directly owns 303,151 shares of the company’s stock, valued at approximately $37,912,064.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 51,000 shares of company stock worth $6,339,810. Insiders own 1.80% of the company’s stock.
Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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